Regulatory Guidance Assessment Analyst at Flagstar Bank, N.A. in New York, New York

Job Description:

Position Title
Regulatory Guidance Assessment Analyst

Location
NY / 1400 Broadway Floor 07

Job Summary
Regulatory Compliance is responsible for developing and maintaining a Compliance Management Program for the Bank that reasonably ensures compliance with consumer protection laws and regulations, addresses associated risks of harm to consumers and customers, and integrates consumer compliance into the day-to-day responsibilities of its management and employees.

This position is responsible for assisting in the maintenance and administration of various Compliance Management Program tools (e.g. Regulatory Guidance Assessment Analysis) that are used to assist the Bank's business units in achieving and maintaining compliance with consumer protection laws and regulations.

Key areas of focus include providing administrative support and non-routine correspondence, assembly of confidential information with a diverse group of external and internal contacts at all levels of the organization, and ensure compliance with government agencies, federal and state regulations for all areas of the Bank as well as the continual monitoring of the external environment or changes on the horizon.

This position will be an integral part of ensuring an effective Compliance Management Program is in place by providing support within the Regulatory Compliance Department and will be an integral part of the Bank's overall risk management strategy.

Pay Range: $73,625.80 - $95,713.54 - $141,361.52

Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

• Stay current with evolving regulatory guidance, enforcement actions, Civil Money Penalties, and CFPB Supervisory Highlights relating to the banking industry and develop logs based on the above.


• Identify business unit(s) and applicable advisors to which the guidance, etc. may apply so that they may conduct a thorough analysis of the bank's processes, policies, and procedures to identify potential compliance vulnerabilities and risks.


• Maintain detailed records of findings and recommendations to ensure accurate documentation and reporting.


• Periodically follow up with compliance advisors and assist in follow-up of business unit leaders in identifying risks and/or vulnerabilities.


• Communicate findings with compliance advisors to assist in developing strategies to address identified risks and/or vulnerabilities.


• Update risk assessment with completed guidance, etc. assessments by the business unit(s).


• Assist in tracking and reporting state and federal regulatory changes identified by the Legal/Compliance departments to impacted compliance advisors and business unit designees.


• Assist in determining regulatory changes identified by the Legal/Compliance Departments classification as having a high, medium, or low impact on the bank.


• Assist with entries into the tracking database.


• Assist in generating regulatory change reports and distribute to compliance advisors.


• Completing all required compliance training


• Maintain knowledge of and adhere to Flagstar's internal policies and procedures.


• Commit to staying updated on regulatory changes, regulatory guidance, enforcement actions, Civil Money Penalties, CFPB Supervisory Highlights and industry best practices.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.


• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Required Qualifications:

• Education level required: College, Vocational or Associates Degree (2 years or equivalent) or comparable work experience.


• Minimum experience required: 5+ Years relevant experience in financial services industry.


• 3+ Years regulatory compliance experience in a financial institution setting.

Preferred Qualifications:

• Education level preferred: Undergraduate Degree (4 years or equivalent)


• Certified Regulatory Compliance Manager (CRCM) and/or Certified Risk Professional (CRP)

Job Competencies:

• Working knowledge of federal and state bank compliance regulations, bank products and services, as well as issues related to bank operations, products, and services.


• Knowledge of the impact of bank compliance regulations and guidance on bank products and services.


• Excellent analytical and problem-solving skills to assess complex regulatory documents and identify compliance risks.


• Meticulous attention to detail when reviewing processes and documentation to identify potential issues.


• Ability to prioritize assignments and handle multiple projects simultaneously.


• Ability to work both independently and in a team-oriented environment.


• Excellent communication (verbal and written), organizational and follow-up skills.


• Excellent relationship building skills and be able to communicate highly technical compliance related information.


• Physical demands (ADA): No unusual physical exertion is involved.